Nemaura Medical Inc. Secures $10 Million Non-Dilutive Credit Facility to Fuel Strategic Growth

Loughborough, UK, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Nemaura Medical Inc. (NASDAQ: NMRD) (“Nemaura Medical” or the “Company”), developer of a daily wear non-invasive glucose sensor, and digital healthcare programs is pleased to announce the execution of a strategic agreement for a $10 million credit facility which is expected to support the Company’s strategic growth plans.

Recognizing the challenges associated with equity sales, particularly in the small-cap landscape on the Nasdaq, Nemaura Medical has proactively pursued a funding strategy that minimizes dilution and, the Company believes, aligns with the best interests of its valued shareholders. This $10 million credit facility, structured to be non-dilutive, empowers the Company to draw down a maximum of $1 million per month, providing a steady and controlled infusion of capital to support Nemaura Medical’s commercialization initiatives.

The decision to opt for a non-dilutive funding source underscores the Company’s commitment to preserving shareholder value in the current market conditions. Dilution has long been a concern for public companies, and the Company believes that this credit facility not only addresses this concern but also positions Nemaura Medical for strategic growth.

About Nemaura Medical, Inc.

Nemaura Medical, Inc. is a medical technology company developing and wearable diagnostic devices. The company is currently commercializing sugarBEAT and proBEAT. sugarBEAT, a CE mark approved Class IIb medical device, is a non-invasive and flexible continuous glucose monitor (CGM) providing actionable insights derived from real time glucose measurements and daily glucose trend data, which may help people with diabetes and pre-diabetes to better manage, reverse, and prevent the onset of diabetes. Nemaura Medical has submitted a proposal for a Modular PMA (Premarket Approval Application) application for sugarBEAT to the U.S. FDA, for its generation II, 24 hour sensor. proBEAT is a non-regulated version of sugarBEAT which combines non-invasive glucose data processed using artificial intelligence and a digital healthcare subscription service as a general wellness product as part of its BEATdiabetes program.